The UK snap general election will happen on June 8 this week. Many were surprised by the UK prime minister’s calling to move the election to this year instead of 2020.

This move is to make the most out of the population’s distrust among other political parties in the country. Ever since announcing the snap election, Bitcoin sportsbook and other betting sites have been receiving many bets for a major Conservative win.

Tory Party and Brexit

The Tory or Conservative Party has the commanding lead to the general election. William Hill is giving the political party 1.25 odds while Bet365 has them at 1.20.

This massive amount of support toward the Tory Party is due to the Brexit announcement. Brexit is where the UK will remove itself from the European Union. This move comes from the Independence Party when David Cameron was the PM.

According to the Independence Party, being part of the EU has put the UK in a restrictive disadvantage. One disadvantage is the high membership fee of the EU. The fee is significantly high which can be of benefit to other parts of the UK.

Previously, UK Prime Minister Theresa May did not support the decision to leave the EU. Her decision swiftly changed when a majority of British people are in favor of the Brexit. By winning the snap election, Theresa May will have a strong backing when it comes to negotiating with the EU leaders. This is why bookies are also seeing high odds of most seats going toward conservatives as well. Bet365 is giving this chance of it happening at 1.083 while William Hill gives it 1.11.

Labor Party

Led by Jeremy Corbyn, the Labor Party is the second leading political party that has a close chance at winning the election. However, the gap between Labor and Tories is significantly wide. For politics Bitcoin betting, a Labor Majority for the general election is 10.00 at William Hill and 15.00 at Bet365. Bet365 is giving the chance of Labor minority 8.50 odds of happening.

For more than a year, the party has been under numerous criticisms. One possible factor for the party to lose most of its votes is Corbyn’s capabilities to lead the country as well as is his low public approval rating.

The polls are showing an improvement in Labor’s position. However, the US election shows that there might be a disparity between the polls and the actual turnout of the election.

The odds are simply against the Labor Party for the coming election. However, Corbyn does not look fazed. The party still has a significant number of supporters. This includes part of the population who wants to retain the EU bloc. May also said that Tory will lose the election if the party loses six seats.